Amazon to delivery companies: Yes, we're building our own service but don't worry

Over the last few months, we've seen multiple reports about Amazon possibly taking steps to build its own delivery and logistics business, across truck trailers, air flights, and ocean freights.

Some reports even said that Amazon is secretly putting together a team to spearhead the initiative, leading to speculation that Amazon could upend an industry dominated by companies like FedEx, DHL, and UPS.

On Thursday, analysts finally got a chance to ask Amazon CFO Brian Olsavsky about it.

Olsavsky played down the significance of Amazon's interest in the business. Yes, Amazon is indeed building its own logistics business, he said, but it's not meant to replace any of the existing partners.

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